Whale Activity in XRP: A Closer Look at Recent Trends
Despite the lackluster price performance of XRP recently, major investors have taken a keen interest in the cryptocurrency. Analysis of data retrieved from Glassnode on Wednesday reveals a noteworthy trend: significant buying activity by cryptocurrency whales.
Whales Amass $1.8 Billion Worth of XRP Over the Past Month
Over the course of the last 30 days, whales have accumulated a staggering $1.8 billion worth of XRP, equating to nearly 1 billion tokens at the current market price of $2.14. This substantial accumulation has sparked discussions among traders, with some speculating on whether this buying spree may involve insider knowledge.
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Performance Analysis: XRP in 2025
The performance of XRP in 2025 has been underwhelming, with the cryptocurrency showing a modest 1.17% increase year-to-date. However, it remains 35.71% below its peak of $3.31 reached in January. Market activity in recent weeks has not inspired much confidence in a trend reversal, as XRP struggled to sustain an upward trajectory in late April, facing rejection at the $2.29 level twice in a single week.
XRP Open Interest Decline Amidst Whale Accumulation
Despite significant whale buying pressure, XRP’s open interest has experienced a decline. As reported by Finbold on May 7, the open interest fell from its recent high of 1.52 billion to 1.37 billion. This drop suggests a decrease in speculative activity, even as whales continue to accumulate XRP.
Interestingly, this accumulation contradicts the previous trend and at least demonstrates a belief in the token’s potential stability before any significant rebound. In contrast, the first two weeks of April saw a notable sell-off, with major holders offloading 370 million XRP during this period.
Price Trajectory and Market Uncertainty
The trajectory of XRP’s price offers mixed signals. On May 6, the cryptocurrency managed to break its prevailing downtrend, suggesting that the timing of recent purchases may have been strategic. However, there are signs that this upward momentum may not be sustainable in the long term.
In the past 30 days, XRP has gained 11.48%, although it has seen a decline of 0.52% over the last five days. Currently, it is 2.8% above its most recent lows but is also 1.38% down since midnight, trading at $2.14 at press time.
As the market continues to navigate through these fluctuations, the role of major investors and their impact on XRP’s price dynamics remains an area of keen interest for traders and analysts alike. The future of XRP remains uncertain, with both potential and pitfalls on the horizon.
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